In 2023, Mini reports $800,000 of pretax book net income. Mini did not recognize any bad...
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In 2023, Mini reports $800,000 of pretax book net income. Mini did not recognize any bad debt expense for book purposes in 2023 but did deduct $15,000 in bad debt expense for tax purposes. Mini reports no other temporary or permanent book-tax differences. The applicable U.S. Federal corporate income tax rate is 21%, and Mini earns an after-tax rate of return on capital of 4%. For 2023, compute Mini's current income tax benefit or expense. $ 171,150 X In 2023, Mini reports $800,000 of pretax book net income. Mini did not recognize any bad debt expense for book purposes in 2023 but did deduct $15,000 in bad debt expense for tax purposes. Mini reports no other temporary or permanent book-tax differences. The applicable U.S. Federal corporate income tax rate is 21%, and Mini earns an after-tax rate of return on capital of 4%. For 2023, compute Mini's current income tax benefit or expense. $ 171,150 X
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